Keyword
Underwriting
Water scarcity creates risks for businesses, demands management: Zurich
October 14, 2015 by Canadian UnderwriterWater scarcity is leading to risks and exposures for businesses worldwide, necessitating that organizations put in place appropriate water management plans, argues a white paper issued Tuesday by Zurich Insurance. Businesses around the world are feeling the strain of water…
Engineering Insurance Conference speaker explains defective design, workmanship exclusions
October 13, 2015 Greg Meckbach, Associate EditorThere has been “little interpretation,” by Canadian courts, of the London Engineering Group (LEG)’s exclusion clauses for construction insurance, though a recent decision emphasized what was considered “defective workmanship,” a construction lawyer suggested at the recent 42nd Annual Engineering Insurance…
Canadian commercial lines policy charges up 1.1% in Q2 2015 from Q2 2014: Towers Watson
October 13, 2015 by Canadian UnderwriterPrices charged on commercial lines policies underwritten during the second quarter of 2015 increased 1.1% for the same coverage during the second quarter in 2014, according to the latest Towers Watson Commercial Insurance Pricing Survey – Canada. Once per quarter,…
Emerging economies likely to experience difficult stress test in year ahead, conditions to drive political risks: Willis
October 13, 2015 by Canadian UnderwriterEmerging economies – with Syria, Venezuela and Zimbabwe topping the risk list – are expected to experience a difficult stress test in the year ahead, although a repeat of the emerging markets crises of the late-1990s is unlikely, notes a…
Willis commits $1 million to multi-party forum to address nat-cat risk, information could help with closing protection gap
October 8, 2015 by Canadian UnderwriterWillis Group Holdings plc has announced a $1 million commitment from the global risk advisory and re/insurance broking firm to help mobilize a new multi-party Resilience Modelling and Mapping Forum that will focus on addressing natural catastrophe risk. The announcement,…
U.S. p&c industry posts improved underwriting results and net income through the first half of 2015: A.M. Best
October 7, 2015 by Canadian UnderwriterThe United States’ property and casualty industry posted improved underwriting results and net income through the first six months of 2015, according to a special report released on Monday by ratings agency A.M. Best Company. The Best Special Report, titled…
Protection gap remains at an estimated US$1.3 trillion: Swiss Re
October 7, 2015 by Canadian UnderwriterDisaster risks are increasing, but insurance hasn’t kept pace as the estimated US$1.3 trillion gap between insured and total losses remains stubbornly large, said a new report from Swiss Re. Launched at the World Bank/IMF annual meetings in Lima, Peru,…
Smaller cyber breaches also of concern: NICC speakers
October 2, 2015 Jason Contant, Online EditorWhile large-profile cyber breaches tend to dominate the news headlines, sometimes it’s the smaller ones that are being overlooked, panellists suggested on Thursday at the National Insurance Conference of Canada in Montreal. Although people tend to look at the large,…
Zurich appoints Paul Horgan as CEO of Global Corporate in North America
October 1, 2015 by Canadian UnderwriterZurich Insurance Group has appointed Paul Horgan CEO of Zurich’s Global Corporate in North America (GCiNA) business, effective immediately. Horgan, previously Head of Group Reinsurance, is now accountable for the direction, management and performance of GCiNA, a major business area…
Canadian economy to grow in Q3, Q4 and next year, predicts Swiss Re’s chief economist
October 1, 2015 Jason Contant, Online EditorCanada could see a “moderate” 3% economic growth in the third and fourth quarters of this year and 2% next year, Swiss Re’s chief economist suggested during a presentation at the National Insurance Conference of Canada (NICC) in downtown Montreal…
The Power of One
October 1, 2015 Craig Harris, Freelance Writer“Mass personalization” has become a distinct trend in sectors ranging from retail to manufacturing to e-commerce. Today’s consumers increasingly expect companies to tailor offers, products and pricing to their unique situations and preferences. Property and casualty insurers in Canada are slowly finding ways to tap into the power of personalization.
Towers Watson develops financial modelling application for Canadian p&c insurers
September 29, 2015 by Canadian UnderwriterGlobal professional services company Towers Watson has announced the development of an application within its Igloo financial modelling suite specifically tailored for property & casualty insurers in Canada. The application is designed to help Canadian insurers “efficiently use comprehensive, full-function…